Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
Homebuilder outlook rallies in June
WASHINGTON (6/17/14)--For the first time this year, homebuilder confidence is on the upswing, according to the June National Association of Home Builders' (NAHB) housing market index, released Monday.

All three subcomponents in June increased, with the composite index jumping to 49 from 45 and current sales surging by 6 points ( Economy.com June 16).

However, the index--which gauges overall confidence among homebuilders--still falls below 50, indicating high levels of pessimism within the homebuilding market.

"Consumers are still hesitant, and are waiting for clear signals of a full-fledged economic recovery before making a home purchase," David Crowe, NAHB's chief economist, told MarketWatch (June 16). "Builders are reacting accordingly, and are moving cautiously in adding inventory."

The West region saw the strongest rebound, climbing nine points in June after an abysmal start to the year, according to Moody's analysts.

The only region not to post strong gains in builder confidence was the Northeast, where the index dropped even further to 33 from 35.

"Since the NAHB's composite index generally tracks single-family housing starts, (the positive report) increases the chance that single-family residential construction will hasten as we enter the summer," said Gregory Bird, Moody's Analyst ( Economy.com ). "However, this is no slam dunk, as the headline number remains below 50, albeit barely, signaling that on net more builders view single-family housing market conditions as poor than good."


RSS





print
News Now LiveWire
Construction spending drops in January, according to @CommerceGov http://t.co/W9J1mDyF8X #Market #NewsNow
2 hours ago
During Nat'l Consumer Protection Week, @TheNCUA reminds #CU members of agency resources re: rights as consumers. http://t.co/aYgW1HoDmF
3 hours ago
.@TransUnion: #millennials climbing into driver's seat with loans http://t.co/S4H9OIB3Av
5 hours ago
Breaking at #NewsNow: @CUNA backed bill introduced by @RepEdRoyce @GregoryMeeks would raise MBL cap. #CUSmallBiz http://t.co/ZDAb2UMoQz
6 hours ago
Loan growth at federally insured #creditunions in 2014 climbed to highest level since 2005, @TheNCUA reported today. Watch News Now Tues.
6 hours ago